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Startup news and updates: daily roundup (May 24, 2023)

YourStory presents the daily news roundup from the Indian startup ecosystem and beyond. Here's the roundup for Wednesday, May 24, 2023.

Startup news and updates: daily roundup (May 24, 2023)

Wednesday May 24, 2023 , 5 min Read

Funding

Edtech company Ulipsu raises $3.2M

Upskilling platform Ulipsu has raised $3.2 million as part of its pre-Series A round, bringing the total funding to $5.7 million.

Existing investors, as well as high net-worth individuals from the Middle East and Canada, participated in the round, the startup said in a statement.

Ulipsue will use the funds from the round to expand to domestic and global markets, as well as diversify its product portfolio. It will also hire more people across roles.

Founded in 2022 by Sumanth Prabhu and Nikhil Bhaskar, Ulipsu offers skill-based learning modules to children between the ages of 6 to 16.

Edtech firm uFaber raises Rs 25 Cr in Series A round

Online learning platform Ufaber has raised Rs 25 crore in a Series A funding round led by Mastermind JPIN Capital Partners and Gray Matters Capital.

The startup will use the funds to improve its technology and hire more people.

uFaber was started in 2014 by IIT Bombay alumni Rohit Jain and Anirudh Swarnkar to offer specialised training programmes to children of all ages.

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Ticket 9 raises $120,000 in pre-seed funding

Coimbatore-based event tech startup Ticket 9 has raised $120,000 in funding from several angel investors, including M2P Co-founder Prabhu Rangarajan, Ippopay's Mohan K, and Wilcosource's Sundararaman Ramasamy, among others.

The startup will use the funds to bolster its tech stack, expand into new markets, and hire more people.

Founded by Yazhini Shanmugam and Santhos Premraj, Ticket 9 helps create, manage, promote and monetise events of any type and size.

Other news

Wealthtech startup Fisdom launches online learning platform

Fisdom, a wealthtech startup, has launched an online learning platform called 'One Percent Academy' for aspiring investors and traders to enhance their fundamental and technical analysis skills.

The startup has also signed a memorandum of understanding (MOU) with BSE Institute to offer certified courses to traders and investors.

To participate in the programmes offered by One Percent Academy, a minimum qualification of Higher Secondary School (Class 12) is required.

The startup says it successfully trained over 600 individuals during the pilot, of which 56% of participants reported achieving positive returns on their investments.

5C launches on-demand diagnostic platform

5C Network, a leading digital diagnostic delivery platform backed by Tata 1mg, has launched an on-demand diagnostic service called Prodigi PASS, which will allow patients to access and discover diagnostic centres in their local area.

With Prodigi PASS, patients can easily schedule their visits to diagnostic centres through online aggregator platforms like Tata 1mg, eliminating delays.

It also allows patients to discover the prices for different diagnostic services and make informed decisions.

Prodigi PASS allows patients with all major insurance plans to access necessary diagnostic services. It has been successfully launched in Bengaluru, with over 50 diagnostic centres available across the city. Future plans include expanding the service to other major cities, such as Mumbai, Hyderabad, Chennai, Delhi, Ahmedabad, and Pune.

Healthcare

BSES Rajdhani Power to partner with Sheru

BSES Rajdhani Power Limited (BRPL) has partnered with Sheru, an energy software company, to develop India's first vehicle-to-grid station.

The companies say the partnership will help in easing pressure on power demand from EVs, and strengthen the power grid.

Vehicle-to-Grid (V2G) technology offers significant advantages. It enables electric vehicles to contribute to grid stability by supplying power during high demand or grid instability. Additionally, V2G helps manage peak energy demand, maximises the use of renewable energy, and supports the integration of clean and sustainable mobility with the electricity grid.

"Utilising the battery capacity of swapping stations as a distributed energy resource installed across the distribution area to support the grid during peak times and maximise charging of batteries through the integration of renewable energy or during off-peak power periods will build a sustainable model for EV charging," said a BRPL representative in a press release.

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Free ad-supported streaming growing in India: Amagi

Cloud-based SaaS company that provides tech for broadcast and connected TV, Amagi says that demand for free content is the primary catalyst driving free ad-supported streaming TV (FAST) growth in the APAC region.

Further, the report revealed that there has been a consistent increase in viewing hours and ad impressions among TV users in India and Australia. Notably, India experienced a significant surge of 63.3% in viewing hours and a remarkable 77% rise in ad impressions, the seventh edition of Amagi's Quarterly Global FAST Report showed.

The report added that the connected TV market in India, currently present in 20-22 million households, is projected to double by 2024.

India emerged as the frontrunner in channel deliveries, experiencing year-on-year growth of 142% in the fourth quarter of 2022, according to Amagi.

Singapore AI-based SaaS platform KarmaV enters India

KarmaV, an AI-SaaS platform that focuses on solving diversity, equity, and inclusion status, said it would entering India to help workspaces become more inclusive and diverse.

Founded in 2021 by Ujjal De, Madhura Moulik, and Ayan Paul, KarmaV helps organisations hire without biases, and improve their diversity, equity, and inclusion status. It aims to resolve hiring obstacles and help make hiring decisions based on socio-economic trends.

(This article will be updated with the latest news throughout the day.)


Edited by Affirunisa Kankudti